Texas Dow Employees Credit Union
- Assets
- $4.7b
- Revenue
- $348.7m
- Investments
- $52.8m
- Employees
- 1,118
- Location
- Lake Jackson, TX
- Founding
- 06/1976
- Data as of
- 12/2023
- EIN
- 74-1260543
Organization Overview
Texas Dow Employees Credit Union is located in Lake Jackson, TX. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Texas Dow Employees Credit Union employed 1,118 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texas Dow Employees Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Texas Dow Employees Credit Union generated $348.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $315.8m during the year ending 12/2023. While expenses have increased by 8.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2023, Texas Dow Employees Credit Union has awarded 29 individual grants totaling $439,885. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
INCREASE ECONOMIC WELL-BEING OF OUR MEMBERS THROUGH NOT-FOR-PROFIT, COOPERATIVE FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TDECU IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE WITH MORE THAN 385,000 MEMBERS. THROUGHOUT THEIR MEMBER SERVICE LOCATIONS, TDECU OFFERS A COMPLETE SELECTION OF CONVENIENT AND COMPETITIVE PRODUCTS AND SERVICES.
TDECU'S MISSION IS TO HELP PEOPLE NAVIGATE THEIR FINANCIAL JOURNEYS. TDECU IS DRIVEN BY A MISSION OF PEOPLE HELPING PEOPLE. CREDIT UNIONS WERE CREATED SO MEMBERS COULD INVEST THEIR SAVINGS TOGETHER, LEND TO ONE ANOTHER, AND OWN A PART IN THE ORGANIZATION - A TRUE DEFINITION OF PEOPLE HELPING PEOPLE.
TDECU SUPPORTS INITIATIVES THAT HELP LOCAL COMMUNITIES THRIVE THROUGH A FOCUS ON EDUCATIONAL, HEALTH, AND ECONOMIC DEVELOPMENT ALL OF WHICH FORM THE TDECU COMMUNITY ENGAGEMENT PLATFORM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Smith Richard B Board Member | Trustee | 1 | $0 |
Chibib Adam Board Member | Trustee | 1 | $0 |
Sikora David Bod Chairperson | Trustee | 2 | $0 |
Buche Daniel L Bod Member | Trustee | 2 | $0 |
Coe Frank Curtis Bod Member | Trustee | 2 | $0 |
Killinger Elizabeth Bod Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pscu Call Center, Statement Processing, Incet | 12/30/23 | $14,646,840 |
Visa Visa Dps | 12/30/23 | $6,581,660 |
Cardtronics Atms Provided By Cardtronics With Tdecu | 12/30/23 | $3,749,484 |
Bucees Fuel Discounts/cc Interchange/atm Transa | 12/30/23 | $2,817,899 |
Lanvera Ltd Monthly Notices/forms/estatements | 12/30/23 | $2,502,861 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $304,387,311 |
| Investment income | $9,297,680 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,032 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $348,738,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $495,501 |
| Grants and other assistance to domestic individuals. | $199,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,624,889 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,381,435 |
| Pension plan accruals and contributions | $3,694,794 |
| Other employee benefits | $18,670,968 |
| Payroll taxes | $5,492,004 |
| Fees for services: Management | $1,062 |
| Fees for services: Legal | $1,411,517 |
| Fees for services: Accounting | $110,077 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,596,466 |
| Advertising and promotion | $9,050,584 |
| Office expenses | $8,152,819 |
| Information technology | $15,629,354 |
| Royalties | $0 |
| Occupancy | $7,559,248 |
| Travel | $1,648,910 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $101,153 |
| Interest | $55,298,275 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,217,247 |
| Insurance | $672,188 |
| All other expenses | $633,337 |
| Total functional expenses | $315,843,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,736,092 |
| Savings and temporary cash investments | $229,045,675 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,745,473 |
| Loans from Officers, Directors, or Controlling Persons | $2,582,406 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,194,879,846 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,360,170 |
| Net Land, buildings, and equipment | $57,251,210 |
| Investments—publicly traded securities | $14,771,200 |
| Investments—other securities | $52,776,324 |
| Investments—program-related | $0 |
| Intangible assets | $20,504,800 |
| Other assets | $83,707,594 |
| Total assets | $4,690,360,790 |
| Accounts payable and accrued expenses | $85,315,702 |
| Grants payable | $0 |
| Deferred revenue | $1,712,500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,373,526 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $309,973,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,810,571,304 |
| Total liabilities | $4,224,946,932 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $465,413,858 |
| Total liabilities and net assets/fund balances | $4,690,360,790 |
Grants Awarded
Over the last fiscal year, Texas Dow Employees Credit Union has awarded $439,885 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY INC PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
BETHEL'S PLACE PURPOSE: CHARITABLE CONTRIBUTION | $15,000 |
BOYS AND GIRLS CLUBS OF GREATER TARRANT COUNTY PURPOSE: CHARITABLE CONTRIBUTION | $8,000 |
BRAZOSPORT ISD EDUCATION FOUNDATION PURPOSE: CHARITABLE CONTRIBUTION | $15,000 |
TDECU CARES FOUNDATION PURPOSE: FOUNDATION CONTRIBUTION | $130,000 |
DAVID HUANG RESORY (HARVEST FOR THE HUNGRY) PURPOSE: CHARITABLE CONTRIBUTION | $7,500 |